NYT earnings good industry sign

July 23, 2009 at 10:58 am

Despite plunging ad revenue, The New York Times Company reports a surprising 85-percent increase in 2Q profits. Professor Lou Ureneck, the Journalism Department chair and former Philadelphia Inquirer deputy editor, says the numbers bode well for an industry recovery.

“It’s too early to end the alarm over newspaper earnings, but it seems to indicate that newspaper publishers have mostly gotten control of the downward spiraling plane through serious cost controls.”